Desmond & Dempsey Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 09007844 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 April 2016

for

Desmond & Dempsey Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr J Jeffery

Mr M B Battles

Mrs A P Lebre

Miss M Goddard

Mr J J Jeffery

REGISTERED OFFICE:

3rd Floor

3 Fitzhardinge Street

London

W1H 6EF

REGISTERED NUMBER:

09007844 (England and Wales)

ACCOUNTANTS:

Chaddesley Sanford Limited

3rd Floor

3 Fitzhardinge Street

London

W1H 6EF

FIXED ASSETS

Tangible assets

2

7,075

674

CURRENT ASSETS

Stocks

28,882

6,924

Debtors

12,725

8,224

Cash at bank

77,738

15,633

119,345

30,781

CREDITORS

Amounts falling due within one year

36,551

33,916

NET CURRENT ASSETS/(LIABILITIES)

82,794

(3,135

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

89,869

(2,461

)

CAPITAL AND RESERVES

Called up share capital

3

863

500

Share premium

252,970

19,960

Profit and loss account

(163,964

)

(22,921

)

SHAREHOLDERS' FUNDS

89,869

(2,461

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at
the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 31 January 2017 and were signed on its
behalf by:

Mr J Jeffery - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Website development

-

20% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete

and slow moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

716

Additions

7,265

At 30 April 2016

7,981

DEPRECIATION

At 1 May 2015

42

Charge for year

864

At 30 April 2016

906

NET BOOK VALUE

At 30 April 2016

7,075

At 30 April 2015

674

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.16

30.4.15

value:

£

863,139

Ordinary

0.001

863

500

363,139 Ordinary shares of 0.001 each were allotted and fully paid for cash at par during the year.

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 30 April 2016 and the

period ended 30 April 2015:

30.4.16

30.4.15

£

Miss M Goddard

Balance outstanding at start of year

1,046

-

Amounts advanced

452

5,977

Amounts repaid

(329

)

(4,931

)

Balance outstanding at end of year

1,169

1,046

Mr J Jeffery

Balance outstanding at start of year

(2,944

)

-

Amounts advanced

7,638

-

Amounts repaid

(4,481

)

(2,944

)

Balance outstanding at end of year

213

(2,944

)

5.	GOING CONCERN

As at the balance sheet date the company had net liabilities. These financial statements have been

prepared on the going concern basis, on the understanding that the director and shareholders will

continue to support the company for the foreseeable future.